Tesla (TSLA) Model 3 Plans Doesn't Require Capital Raise; SolarCity (SCTY) Could be a Cash Contributor - Musk
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Tesla turns profit, Musk says no new capital needed for Model 3
October 26, 2016 4:18 PM EDTBy Narottam Medhora and Alexandria Sage
SAN FRANCISCO (Reuters) - Tesla Motors Inc (NASDAQ: TSLA) reported its first quarterly net profit in more than three years on Wednesday, buoyed by nearly $139 million in sales of clean car credits, and Chief Executive Elon Musk said the company could turn a profit again in the fourth quarter.
The electric carmaker also signaled it has substantially reduced the costs for launching production of its high volume Model 3 sedan next year. Musk told analysts the company's current plan "does not require any capital raise for the Model 3... More
Tesla (TSLA) Posts Q3 adj.-EPS of 71c
October 26, 2016 4:08 PM EDT(Updated - October 26, 2016 4:11 PM EDT)
Tesla (NASDAQ: TSLA) reported Q3 EPS of $0.71, $1.25 better than the analyst estimate of ($0.54). Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.35 billion.
We achieved record production levels in Q3, rising to 25,185 vehicles for an increase of 37% from Q2 and an increase of 92% from Q3 last year.
More than four years since its introduction, Model S continues to expand market share, which is a testament to our continuous vehicle innovation. In the U.S., which is Tes las most mature market,... More
